Trump Media & Technology Group is said to be pulling back from its planned expansion into prediction markets after walking away from two previously announced deals involving Crypto.com. The retreat points to a change in direction for the company’s wider cryptocurrency strategy.
Axios reported exclusively that Trump Media has backed away from agreements connected to Crypto.com that were designed to deepen the company’s involvement in digital assets and event-based trading. The plans had been part of an effort to turn Truth Social into a destination for financial products powered by cryptocurrency. “We wanted to get focused,” interim CEO Kevin McGurn told the outlet.
Among the projects that could be affected is Truth Predict, a prediction markets platform Trump Media unveiled in October 2025. The service was planned through an exclusive partnership with Crypto.com’s Derivatives North America, which operates as a CFTC-registered exchange and clearinghouse.
Trump Media had expected the product to make Truth Social the first publicly traded social media platform offering regulated prediction markets. Users would have been able to trade contracts based on outcomes involving politics, economic indicators, commodities and sports.
The company also intended to connect its existing platform rewards with the new service. Under that plan, users could convert those rewards into Crypto.com’s Cronos, or CRO, token and then use the cryptocurrency to participate in prediction markets.
Trump Media’s prediction market ambitions are cooling as it unwinds Crypto.com deals
Trump Media had been looking to expand outside its core social media business by bringing digital assets, financial technology and online communities together under one ecosystem.
That strategy now appears less certain. Axios says Trump Media has stepped away from two agreements involving Crypto.com, cooling the company’s prediction market push and leaving the future of those planned offerings unresolved.
The reversal arrives as the regulatory climate has grown friendlier toward both cryptocurrency businesses and prediction markets. President Trump has repeatedly backed prediction markets as legitimate financial products. He has also argued that the Commodity Futures Trading Commission, rather than state gambling regulators, should oversee them.
Prediction markets have meanwhile developed stronger political and financial connections to Trump’s circle. Donald Trump Jr. joined Polymarket’s advisory board in 2025. Crypto.com has also kept building out its regulated derivatives operations as the industry prepares for wider use of contracts based on real-world events.
What comes next for Trump Media’s fintech strategy is not yet clear. The company could eventually restart its prediction market effort with a different partner or choose another route for expanding into financial technology.
Featured image: Grok / Crypto.com / Truth Social
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